v3.26.1
Property, Plant and Equipment (Tables)
 6 Months Ended
Jun. 30, 2026
Property, Plant, and Equipment [Abstract]  
Schedule of Property, Plant and Equipment, Net
Property, plant and equipment, net consists of the following:
(in thousands)
June 30, 2026December 31, 2025
Land$21,719 $22,778 
Plant and equipment1,611,204 1,621,970 
Construction in progress879,424 802,310 
Asset retirement cost27,458 27,595 
Finance right-of-use asset65 65 
Other2,231 2,010 
Total property, plant and equipment$2,542,101 $2,476,728 
Accumulated depreciation(176,313)(147,693)
Property, plant and equipment, net$2,365,788 $2,329,035 
Schedule of Depreciation Expense
The following table presents Depreciation expense recorded within Depreciation, amortization and accretion on the Consolidated Statements of Operations for the periods indicated below:
Three months ended
June 30,		Six months ended
June 30,
(in thousands)
2026202520262025
Depreciation expense$14,689 $18,596 $29,787 $37,092 
The following table presents amortization expense for the intangible assets related to the favorable PPA and REC contracts recorded on the Consolidated Statements of Operations, including the Contract amortization, net that was recorded as a reduction to revenue in the Consolidated Statements of Operations for the periods indicated below:
Three months ended
June 30,		Six months ended
June 30,
(in thousands)2026202520262025
Total Favorable Amortization expense$5,657 $5,608 $11,563 $14,961 
Favorable Contract amortization as a reduction to revenue
4,867 6,064 9,738 13,034